Palmer Ranch Master Property Owners Association, Inc. Annual Meeting of the Members

MINUTES March 27, 2014

The Annual Meeting of the Members of Palmer Ranch Master Property Owners Association, Inc. was held March 27, 2014 at Covenant Life Presbyterian Church, 8490 McIntosh Road, Sarasota, Florida 34238. The meeting was brought to order at 3:02 pm by Richard (Rick) Barth, President, following confirmation of quorum. Following the tabulation of votes at this meeting, the Master Association will transition from Declarant to Member Control. Trustees present were: Rick Barth, Ed Turner, Judy Haber, Sue Ambrecht, Tracy Smith, Steve Jeantet, Bob Holzman, Steve Jeantet, Rob O’Connor, Bob Mills, Kathrin Harris and Eugene O’Brien. Representatives present were: Kenneth Stokes of Arbor Lakes, Stephen Engber of Botanica, Philip Arsenault of Deer Creek, Thomas Moses of The Hamptons, David Watts of Huntington Pointe, Cathy Leetzow of Isles of Sarasota, Donald McKee of Marbella, Richard Miller of Mira Lago, Robert Knickerbocker of Palisades, Dr. Charles Holmes of Prestancia, Charles Painter of Palmer Square East, Jan Rowe of Palmer Club Condominium, Garry Wharton of Silver Oak Estates, Alexander Parnes of Silver Oak Estates, Fred Falkner of Vineyards of Silver Oak, Carole Dudas of Stonebridge, Carol Vartanian of Stonebridge, William Altman of Stoneybrook Golf & Country Club, Kay Karioth of Turtle Rock, Andy Papineau of VillageWalk, Bob Holzman of TPC Prestancia, Laura Gilbert of Evalyn Sadlier Jones YMCA, Sue Ambrecht of Palmer Park of Commerce, Steve Anderson of Palmer Ranch Executive Office Center and Steve Jeantet of Covenant Life Presbyterian Church. Resident members attending were: Russell Seifert of Prestancia, Barbara Tierney of Stoneybrook Golf & Country Club, Doug Griffin of Turtle Rock, Margaret Brading of Turtle Rock, Fred Amazon of Isles of Sarasota, Susan Miller of Mira Lago, John Cleary of Wellington Chase, Mike Gates of Prestancia, Ray Winberg of Stoneybrook Estates and Paula Gritt of Turtle Rock. Attending as legal council for the Master Association: John Cook. Minutes of the Annual Meeting: Motion to approve minutes of the April 16, 2013 Meeting of Members rescheduled from March 28, 2013 as distributed was made by Russell Seifert. Motion was seconded by Mike Gates and passed unanimously. Nominations: Twelve nominations for eight Residential Class vacancies on the Board of Trustees were received prior to mailing of ballots. One nomination for one Recreational Class vacancy on the Board of Trustees was received prior to the mailing of the ballots. One nomination for two Commercial / Industrial Class vacancies was received prior to the mailing of the ballots. There being no further ballots from the floor, Rick declared a close to the balloting. Financial Report:

A. 2013 Audited Financial Statements Presentation of the Audited Financial Statements for the 2013 calendar year was given. Motion to approve the Audited Financial Report for the period ending December 31, 2013 as distributed was made by Richard Miller. Motion was second by Kay Karioth and passed unanimously. 2013 Audited Financial Statements are attached and made a part of these minutes as Exhibit A. B. February 2014 Financial Statements The financial statement for the period ending February 28, 2014 was presented.

Tabulation of Ballots by Election Committee: Motion to appoint Eugene O’Brien, Bob Mills, Ray Winberg and Sue Ambrecht to the Election Committee was made by Dr. Chuck Holmes. Motion was seconded by Garry Wharton and passed unanimously. A vote was performed with results turned over to the election committee for report later in the meeting.

Committee Reports: A. Advisory Committee Kathrin Harris presented the report on behalf of the Advisory Committee. B. Parks Committee Fred Falkner presented the report on behalf of the Parks Committee and Friends of Potter Park.

Community Update:

A. Sandhill Preserve by DiVosta Homes - phased development of 350 residential homes. B. Arbor Lakes by Taylor Morrison Homes - community of 267 residential homes.

C. On April 3, 2014 the Sarasota County Planning Commission will hold a Public Hearing for a new

residential development on McIntosh Road at the intersection with Sawyer Loop Road.

Report of Election Committee: Bob Mills, reporting on behalf of the Election Committee, announced the following members were elected as Residential Trustees for a two year term: Garry Wharton – Silver Oak Estates Barbara Tierney – Stoneybrook Golf & Country Club Kathrin Harris – Turtle Rock Lee Katz – Village Walk Cathy Leetzow – Isles of Sarasota Bob Mills, reporting on behalf of the Election Committee, announced the following members were elected as Residential Trustees for a one year term: Fred Amazon – Isles of Sarasota Fred Falkner – Vineyards of Silver Oak Russell Seifert – Prestancia There being no write in ballots for Recreational Trustee, Laura Gilbert of Evalyn Sadlier Jones YMCA was installed as Recreational Trustee to the Board. There being no write in ballots for Commercial / Industrial Trustee, Steve Anderson of Palmer Ranch Executive Office Center was installed as Commercial / Industrial Trustee. The new member Board will need to appoint a third Commercial / Industrial Trustee. The 15-Member Board of Trustees will now consist of: 10 Residential Trustees 3 Commercial / Industrial Trustees 2 Recreational Trustees So long as the Declarant owns land on Palmer Ranch, it reserves the right to appoint a 16th voting member to the Board of Trustees. Community Representative – Discussion: There was discussion from community representatives on various topics. Motion to adjourn was made by Steve Engber of Botanica and seconded by Don McKee of Marbella. The meeting adjourned at 4:37 pm. Respectfully submitted, Tracy Smith Secretary

EXHIBIT A